Square, Inc. (SQ) Rating Reiterated by KeyCorp
Square, Inc. (NYSE:SQ)‘s stock had its “overweight” rating reissued by investment analysts at KeyCorp in a research note issued to investors on Monday. They currently have a $40.00 price target on the technology company’s stock, up from their previous price target of $35.00. KeyCorp’s target price would indicate a potential upside of 8.81% from the company’s previous close.
Several other research analysts have also commented on the stock. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price objective for the company in a research note on Monday, July 10th. Zacks Investment Research lowered shares of Square from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Deutsche Bank AG lifted their price objective on shares of Square to $28.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $24.00 price objective on shares of Square in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $29.00 price objective (up from $23.00) on shares of Square in a research note on Sunday, July 30th. Twelve analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.40.
Square (NYSE SQ) opened at $36.76 on Monday. Square has a fifty-two week low of $11.43 and a fifty-two week high of $37.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.30 and a current ratio of 2.30.
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In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $25.02, for a total value of $10,008,000.00. Following the completion of the transaction, the director now directly owns 507,385 shares in the company, valued at $12,694,772.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $32.81, for a total transaction of $1,259,904.00. The disclosure for this sale can be found here. Insiders sold 1,353,600 shares of company stock valued at $38,351,040 over the last quarter. 32.68% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Almanack Investment Partners LLC. bought a new position in Square in the second quarter worth about $117,000. Hudock Capital Group LLC bought a new position in Square in the third quarter worth about $157,000. Riverhead Capital Management LLC bought a new position in Square in the second quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Square by 19.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Square during the third quarter valued at about $205,000. Institutional investors and hedge funds own 53.91% of the company’s stock.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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